Mumbai firm booked for allegedly defrauding bank of ₹26.67 crore

The Economic Offences Wing (EOW) of Mumbai Police has booked a firm, ABK Industries Limited, and its director for allegedly defrauding Standard Chartered Bank of ₹26.67 crore. Investigation revealed that the company availed the credit facility from the bank and then transferred the money to a shell company that was set up in the name of one of the employees.